updated 09:46 pm EDT, Fri July 27, 2012

Board of directors of AuthenTec accused of price manipulation

Following Apple's announcement yesterday of its $356 million acquisition of biometrics and near-field communications company AuthenTec, two law firms are investigating the acquired company's board of directors for potential public undervaluations prior to its sale to Apple. Even the allegation of such impropriety could delay the acquisition of the company, according to federal rules. Neither company has released a statement on the accusations.

According to one of the investigating law firms, Levi & Korsinsky, the investigation is centering on whether the board of directors "breached their fiduciary duties to AuthenTec stockholders by failing to adequately shop the Company before entering into this transaction, and whether Apple is underpaying for AuthenTec shares, thus unlawfully harming AuthenTec stockholders."

AuthenTec makes fingerprint sensor chips used in computers, and various other forms of security software and chips for cellphones; some of the company's clients include Dell, Fujitsu, Lenovo, and Samsung. Notably, the company also produces chips involved in near-field communication (NFC) technologies.

Nothing but pure greed going on here. Every time Apple attempts to buy a company, someone feels they're getting cheated. When shareholders are getting a decent premium over the current share price for the company there's no reason they should think they're being cheated. I remember when Yahoo shareholders (maybe it was just the CEO) kept trying to hold up sales because they wanted more and eventually got a lot less as Yahoo's value slipped away over time. A company's value should not be decided upon merely because of which company is going to buy it. Companies should be able to bid anonymously.

Nothing but pure greed going on here. Every time Apple attempts to buy a company, someone feels they're getting cheated..

Yes, this only happens when apple buys a company. If dell were buying it, no one would pay attention. You need to learn the real world doesn't just revolve around apple, it's the same with any company. Geesh.

Apple is more frequently the target of litigation in the technology industry over companies like Dell, Samsung, and Google.

As reported in Bloomberg, 60% of all mobile technology litigation was targeted at Apple either directly or indirectly. The heads of most technology companies believe it would be easier to sue Apple rather than try to get money from companies like Samsung or Google.